Alliant Tech Earnings Slip

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Alliant Techsystems

(ATK)

, a provider of aerospace and defense products, said Thursday its second-quarter earnings declined marginally 0.56% from the year-ago period.

The Edina, Minn.-based company earned $39.93 million, or $1.15 a share, in the quarter, compared with $40.15 million, or $1.07 a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of $41.62 million, or $1.17 a share.

Second-quarter revenue rose 7.9% from a year ago to $833.05 million as against analysts' expectation of $829.34 million.

Second-quarter operating income rose 4.67% from a year ago to $81.92 million and operating margin decreased to 9.83% from 10.14%, a year ago.

By segment, second-quarter revenue from ammunition systems segment increased 12% from a year ago to $283 million, from launch systems segment it increased 5% from a year ago to $262 million and from mission systems it increased 7% from year ago to $288 million.

Alliant Techsystems raised its full-year sales estimate and narrowed its earnings range to the upper end of its previous guidance. ATK now expects sales to exceed $3.45 billion as against analysts expectations of $3.44 billion.

The company now expects full-year earnings in the range of $4.95 to $5.05 a share as against analysts expectations of $5.06 a share. The previous earnings guidance was $4.90 to $5.05 a share.

The company's shares were trading down $1.01, or 1.29%, at $77.34 Thursday.

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